Belpointe Asset Management LLC grew its position in Alphabet Inc (NASDAQ:GOOGL) by 50.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,118 shares of the information services provider’s stock after buying an additional 374 shares during the period. Belpointe Asset Management LLC’s holdings in Alphabet were worth $1,349,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Leavell Investment Management Inc. grew its stake in shares of Alphabet by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 1,355 shares of the information services provider’s stock worth $1,636,000 after purchasing an additional 50 shares during the period. Ontario Teachers Pension Plan Board grew its stake in shares of Alphabet by 66.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 76,862 shares of the information services provider’s stock worth $92,779,000 after purchasing an additional 30,611 shares during the period. Oakworth Capital Inc. grew its stake in shares of Alphabet by 26.7% during the third quarter. Oakworth Capital Inc. now owns 437 shares of the information services provider’s stock worth $527,000 after purchasing an additional 92 shares during the period. TTP Investments Inc. grew its stake in shares of Alphabet by 35.8% during the third quarter. TTP Investments Inc. now owns 6,802 shares of the information services provider’s stock worth $8,211,000 after purchasing an additional 1,793 shares during the period. Finally, Regentatlantic Capital LLC grew its stake in shares of Alphabet by 213.3% during the third quarter. Regentatlantic Capital LLC now owns 7,074 shares of the information services provider’s stock worth $8,539,000 after purchasing an additional 4,816 shares during the period. 42.53% of the stock is owned by institutional investors.
Several research analysts have weighed in on the company. Pivotal Research upgraded Alphabet from a “hold” rating to a “buy” rating and lifted their target price for the stock from $1,010.00 to $1,240.00 in a report on Monday, January 7th. William Blair reiterated an “outperform” rating on shares of Alphabet in a report on Tuesday, February 5th. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,234.00 target price on the stock in a report on Monday, January 28th. Nomura reduced their target price on Alphabet from $1,350.00 to $1,310.00 and set a “buy” rating on the stock in a report on Tuesday, February 5th. Finally, Barclays reiterated an “overweight” rating on shares of Alphabet in a report on Tuesday, February 5th. Three analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $1,314.86.
Shares of Alphabet stock opened at $1,190.30 on Friday. The stock has a market capitalization of $827.48 billion, a PE ratio of 25.05, a PEG ratio of 1.44 and a beta of 1.05. Alphabet Inc has a one year low of $977.66 and a one year high of $1,291.44. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.89 and a current ratio of 3.92.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 EPS for the quarter, beating analysts’ consensus estimates of $11.08 by $1.69. The company had revenue of $31.84 billion for the quarter, compared to analyst estimates of $31.28 billion. Alphabet had a return on equity of 19.94% and a net margin of 22.47%. During the same period in the previous year, the company posted $9.70 earnings per share. Analysts predict that Alphabet Inc will post 47.38 earnings per share for the current fiscal year.
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Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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